As one example, Michael Moritz, an important billionaire venture capitalist, has issued blistering criticism of recent attacks on the H-1B visa. To him, the new fee structure was little more than a “brutish extortion scheme.” As tech industry lobbyists have done for decades, Moritz here claims that former President Donald Trump is completely wrong about why tech companies want to hire foreigners.
As Moritz makes clear, tech firms are hiring foreign talent to fill critical skill gaps and labor shortages. This is not about their desire to replace American workers or cut costs. He argues that foreign workers’ contributions are indispensable to innovation and advancement in tech sectors.
In a prior, T4America-supported commentary, Moritz made a more radical suggestion. He recommended that the US should double or triple the number of these H-1B visas granted. He was a fierce advocate for an automatic path to citizenship for undocumented foreigners. This is true even for the ones who get STEM PhDs from elite U.S. universities.
Additionally, Moritz himself has personal experience with the H-1B process, having received a precursor visa in 1979. These early successes are enriched by his profound gratitude towards the United States, which practically drips off the page in his reveries over the opportunities granted him.
“I have felt grateful to the country that welcomed me.” – Michael Moritz
He emphasized that talented engineers from countries such as Turkey and India possess qualifications on par with their American counterparts. For Dunn, it goes without saying that U.S. tech companies must begin to broaden their talent with more focus overseas. This kind of acceptance is absolutely critical for shoring up their competitive edge.
Moritz cautions that hardline immigration enforcement will inevitably do the opposite, driving firms to move their manufacturing overseas. For one, he foresees companies moving jobs over to cities such as Istanbul, Warsaw or Bangalore rather than keep work in the U.S.
Moritz shined a spotlight on the significant impact of renowned tech players such as Elon Musk and Instagram co-founder, Mike Krieger. He thinks that Trump is finally going after the program that helped train these people.
The current debate around the H-1B visa exemplifies the contentious state of American immigration policy. It can be a powerful tool – shaping the future of innovation and economic growth in the technology sector.